Protagonist Q2 net loss widens to $34.8 million as revenue rises to $5.5 million
Protagonist Therapeutics reported its second quarter 2025 results, with license and collaboration revenue of $5.5 million, up from $4.2 million a year earlier, while its net loss widened to $34.8 million, or $0.55 per share, from $30.6 million, or $0.50 per share. Cash, cash equivalents and marketable securities totaled $673.0 million at June 30, 2025, which the company expects to fund operations through at least the end of 2028.
Key points
- Q2 2025 license and collaboration revenue was $5.5 million, compared with $4.2 million in Q2 2024, all from development services under the Takeda collaboration.
- Q2 2025 net loss was $34.8 million, or $0.55 per basic and diluted share, versus a net loss of $30.6 million, or $0.50 per share, in Q2 2024.
- Cash, cash equivalents and marketable securities were $673.0 million at June 30, 2025, up from $559.2 million at December 31, 2024.
- Icotrokinra NDA for plaque psoriasis was filed with the FDA in July 2025; the rusfertide U.S. NDA for polycythemia vera is expected in Q4 2025.
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.